1st time ever! Railways floats tender for private players to build wheel plant; make high speed trains wheels

For first time, Indian Railways has floated tender to invite private players to build wheel plant, and to make wheels for high speed trains. The development was confirmed by Ashwini Vaishnaw, the Minister for Railways, Communications, Electronics & Information Technology, Government of India, as per a report in PTI.

Further, Railway Minister Ashwini Vaishnaw announced that 'Make in India' wheel plant to be set up in 18 months. He also assured procurement of 80,000 wheels for Rs 600 cr per year, the PTI report added.

Moreover, the Railway Minister said that the tender will be awarded on condition that 'Make in India' plant will be exporter of wheels too.

The export market will be Europe, the minister added.

(With PTI inputs - Developing story; more details awaited)